Oman could be set to dish out oil and gas contracts worth in excess of $1 billion before the year is out, according to a report.
State-run entity Petroleum Development Oman (PDO) is looking to award six contracts at two gas fields in what remains of 2011, Reuters reported citing an unidentified company official.
"We are processing the tenders submitted for various oilfields contracts, including oil drilling and gas supply," the official told the news wire.
"The total contracts to be awarded by end of this year will be worth about 400 million Omani rials ($1.04 billion)."
Reuters reported that six contracts are to be awarded this year at the Hasirah and Hawqa gas fields while other contracts which are up for grabs include a steam injection project at the Al Ghubar oilfield and a power station at Lekhwair.